The Accountancy | Accountants For Landlords - The Accountancy Network


Property can be an excellent source of income and many people have invested in buy to let properties to earn an additional income. Whether you are a developer with a property portfolio or you own a single rental property, there are financial responsibilities associated with being a landlord. However, any money that you earn from renting a property has to be recorded as income. You will also be responsible for submitting an annual self-assessment tax return. Even if your property is making a loss you can use this loss to offset your finances once the property starts to generate an income.

The rules and regulations which relate to rental income can be complicated so hiring the services of a professional accountant with expertise in helping landlords can make your life much easier.

Main Residence

If you own multiple properties and reside in more than one of these, you can opt to nominate which property should be classed as your main residence.

This can be beneficial for tax purposes. An accountant can advise on the implications of making this decision and there are several conditions that you must meet in order to do this. However, there are strict regulations for making these elections which has to be HMRC compliant.


If you have sold or donated a second property or holiday home you may be liable to pay Capital Gains Tax. Accountants can provide advice on tax planning to reduce your liability for Capital Gains, calculate the amount of tax that you have to pay and complete your tax return.


Holiday Lets

In 2012 changes were made to how accountants approach Furnished Holiday Lets (FHLs). Qualifying criteria for FHLs is much more stringent and the associated benefits have reduced significantly. Accountants can advise you on the implications this has on your properties.

The Accountancy Network is a dedicated website to help landlords, sole traders and businesses manage their accounts more effectively. We aim to match your individual circumstances with a suitable accountant who can provide the best advice and support for your financial situation.


If you own a property that you rent out you can deduct a variety of allowable expenses. A specialist landlord accountant will know exactly what you can claim for. They will also ensure that when you complete any tax returns all of the allowable expenses are recorded. Understanding what you can claim can be difficult; Is maintenance tax deductible? What about repairs on the property? Accountants will be able to discuss what options you have to ensure that you are only paying what you need to but remain compliant with HMRC regulations. Claims can also be made for any financial costs associated with a loan or mortgage that you have taken out on the property. This is a complicated area and an accountant will make sure that you are not missing out on tax reliefs that you are accountable for (or would this read better “that you are entitled to”).